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An experienced taper will usually be able to match most 2 sections (that you are describing). However, that is not going to be the case with the average DIYer.

You will have the best results by taking off the entire section and replacing it with a full section of either metal corner bead or no-coat outside corner "sticks" (NOT the roll tape)...The roll tape No-coat is generally too difficult (also for the average DIYer) to attempt to use for outside corners (because of the "curl" factor and shaping).

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There is mud buildup.....on both sides of the wall with the metal corner bead.
The nocoat *flange* is wider than than the metal bead if I recall.
Metal Flange is 1
No Coat is 1.5"
On a wall in which I have ripped the entire bead off I can clearly see the buildup on the edge.....which is somewhere in between 1/32 and 1/16"

I can clearly see the thickness buildup/taper on the old sheetrock vs. new.

I'll play around and see which will work. Taking off the current stick and using metal would be the obvious one that works *with the taper/mud on the existing wall. If I take that stick down, I'm inclined to use No Coat, but I'll still have the buildup of the mud from the metal bead..

I just did this today in a basement after a sump pump failure. i'd get the regular corner bead to replace it. hammer a 2-3" piece behind the existing piece of corner bead then put on the new piece of 24" piece of corner bead. the small piece help match up the 2 pieces sistering them together. i know lots of guys like to nail their metal corner bead but for this application i recommend screwing on the corner bead so you can fine tune it and suck it in more if need be. once extremely close you can rub the corner with your hammer to take off any minor lips and smooth it up.

Flange on metal bead is 1 1/4", flange on nocoat is 1 5/8. If you're a beginner just use metal and splice it with a little piece underneath like ^ said. It will line them up. Coat it with hot mud so it doesn't shrink on you and use a curved trowel to help hide the previous build up.